Senator Seeks U.S. Probe Into Chesapeake Energy

Reuters – U.S. Senator Bill Nelson (D-Fla.) plans to ask the Justice Department to investigate Chesapeake Energy Corp. for potential fraud and price manipulation, an aide to the lawmaker said.

Mr. Nelson’s request comes after Reuters reported on Wednesday [May 2] that Chesapeake Chief Executive Aubrey McClendon ran a $200 million hedge fund that traded in the same commodities Chesapeake produces. A search of Chesapeake’s filings turned up no disclosure of his activities.